Public Keys: Coinbase Cashes In, IBIT Slips, and REX Spins Volatility Into Gold

Core Insights - Coinbase reported Q3 revenue of approximately $1.9 billion, exceeding expectations, with transaction revenue reaching $1.0 billion, indicating a strong rebound in spot volumes [2][3] - BlackRock's iShares Bitcoin Trust (IBIT) experienced significant outflows, with $290.8 million withdrawn in one day, reflecting market volatility [5][6] - REX Shares launched a new ETF that capitalizes on volatility in equities, including crypto companies, positioning it as a feature rather than a drawback [7] Coinbase Performance - Q4 has started strong for Coinbase, with October transaction revenue already at $385 million [3] - The company has expanded its asset offerings from about 300 to over 40,000 assets in the U.S. through DEX integrations [4] - Coinbase's focus on increasing available assets and launching CFTC-regulated 24/7 perpetual futures has contributed to its revenue growth [4] BlackRock's IBIT - IBIT accounted for nearly half of the Bitcoin ETF category's outflows on a day when Bitcoin spot ETFs lost a total of $488.4 million [5] - Despite the outflows, IBIT has a cumulative net inflow of over $88 billion in assets under management, indicating strong long-term adoption [6] REX Shares Strategy - REX Shares is known for unconventional ETFs and its latest product treats volatility in equities, including those of crypto companies, as a beneficial feature [7]